Automotive Power Electronics Market Growth Report 2021 to 2031
The automotive power electronics market is expected to register a CAGR of 5.3% during 2023–2031. The evolution of advanced technologies and the introduction of high-end electric vehicles will likely remain a key trend in the market.
Automotive Power Electronics Market Analysis
- Growing auto industries and increasing demand for high-end electric vehicles are factors enhancing market growth.
- The growing trend of electrification in the automotive industry and the rising demand for electric vehicles are driving significant growth in the global automotive power electronics market.
- Prospects for market expansion are anticipated to be aided by the rising demand for high-efficiency electronic components and the development of autonomous driving technologies.
- Original equipment manufacturers are strengthening their businesses by funding innovative technologies to boost growth and preserve client relevance globally.
Automotive Power Electronics Market Overview
- Electrical energy flow control and management through the use of electronic devices and systems refer to automotive power electronics.
- In contemporary vehicles, power electronics are used more widely to improve the vehicle's performance, efficiency, and safety.
- Thereby, voltage regulators and inverters are broader parts used in automotive power electronics. The vehicle's electric power steering, regenerative braking, battery charging system, and other systems are all under their control.
- The automotive industry's gradual shift toward electric and hybrid vehicles has made automotive power electronics more significant. Automotive power electronics are a crucial component for managing energy consumption and providing power to various components in advanced vehicles. Additionally, it is anticipated that automotive power electronics will be essential to transportation in the future.
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Automotive Power Electronics Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Automotive Power Electronics Market: Strategic Insights
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Automotive Power Electronics Market Drivers and Opportunities
Growing Demand for Electric Vehicles to Favor the Market
- The environmental movement is reaching greater heights with the growing demand for electric vehicles, or EVs. EVs provide major environmental benefits, such as moving away from fossil fuels and toward electricity.
- Automotive power electronics are in high demand worldwide as a result of the transportation sector's shift to electric mobility.
- EV systems, which include lighting and HVAC, depend on these essential parts to control and optimize the flow of electrical energy. Global demand for electric vehicles (EVs) has increased as a result of the remarkable efficiency of MOSFETs, which have been used to power electronic switches to reduce overall size.
Advancement in Connectivity Technology of Vehicle
- The operation of these interconnected systems depends on several electronic systems, including connectivity modules, infotainment systems, and driver assistance systems, all of which need power electronics. The power electronics assist in controlling all of the electrical power within the vehicle.
- Therefore, there is a direct correlation between the demand for power electronics and the demand for connected vehicles since the connected vehicles' efficient operation depends on the system.
- It is anticipated that the market for automotive power electronics will expand as a result of the growth and development of connected vehicles.
Automotive Power Electronics Market Report Segmentation Analysis
Key segments that contributed to the derivation of the automotive power electronics market analysis are vehicle type, component, and application.
- Based on the vehicle type, the automotive power electronics market is divided into battery electric vehicles, hybrid electric vehicles, plug-in hybrid vehicles, and fuel cell electric vehicles.
- based on the component, the market is divided into Switched-mode power supply (SMPS), DC to DC converters, traction inverter (DC/AC), and onboard charger (AC/DC).
- Based on application, the automotive power electronics market is divided into powertrain and chassis, body electronics, safety and security, infotainment, and telematics.
Automotive Power Electronics Market Share Analysis by Geography
- The automotive power electronics market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering automotive power electronics market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the automotive power electronics market in these regions.
Automotive Power Electronics Market Report Scope
Automotive Power Electronics Market News and Recent Developments
The automotive power electronics market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive power electronics market are listed below:
- Vishay Intertechnology, Inc. announced that the company will be showcasing its industry-leading power electronic components at ELECRAMA 2023, taking place Feb. 18-22 at the India Expo Mart in Greater Noida, NCR, India. At the event, Vishay will exhibit its extensive offering of Vishay ESTA power electronic capacitors (PEC) and LVAC power capacitors. Visitors to booth H16B3 will also experience a wide range of the company’s passive, semiconductor, and optoelectronics solutions in a series of demonstrations that are paving the way for next-generation products in today’s fastest-growing markets, including locomotive, industrial, renewables, e-mobility, and on- and off-board chargers. (Source: Vishay Intertechnology, Inc., Company Website, February 2023)
- Denso Corporation, a leading mobility supplier, and United Semiconductor Japan Co., Ltd. (“USJC”), a subsidiary of global semiconductor foundry United Microelectronics Corporation (“UMC”), announced a collaboration to produce insulated gate bipolar transistors* (IGBT), which have entered mass production at the 300mm fab of USJC. A first shipment ceremony was held today to mark this important milestone. It comes just one year after the companies announced a strategic partnership for this critical power semiconductor used in electric vehicles. (Source: Denso Corporation, Company Website, May 2023)
Automotive Power Electronics Market Report Coverage and Deliverables
The “Automotive Power Electronics Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Automotive power electronics market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Automotive power electronics market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Automotive power electronics market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the automotive power electronics market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The rapid technological advancement in the automotive sector is one of the major factors driving the automotive power electronics market.
The global automotive power electronics market is expected to grow at a CAGR of 5.3% during the forecast period 2023 - 2031.
An increase in sales of high-end commercial vehicles is anticipated to play a significant role in the global automotive power electronics market in the coming years.
The leading players operating in the automotive power electronics market are Danfoss Group, Infineon Technologies AG, Mitsubishi Electric Corporation, NXP Semiconductors, Renesas Electronics Corporation, Robert Bosch GmbH, Rohm Co., Ltd., Texas Instruments Incorporated, and Toshiba Corporation.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Automotive Power Electronics Market - By Vehicle Type
1.3.2 Automotive Power Electronics Market - By Component
1.3.3 Automotive Power Electronics Market - By Application
1.3.4 Automotive Power Electronics Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE POWER ELECTRONICS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. AUTOMOTIVE POWER ELECTRONICS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. AUTOMOTIVE POWER ELECTRONICS MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE POWER ELECTRONICS - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE POWER ELECTRONICS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE POWER ELECTRONICS MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
7.1. OVERVIEW
7.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
7.3. BATTERY ELECTRIC VEHICLE
7.3.1. Overview
7.3.2. Battery Electric Vehicle Market Forecast and Analysis
7.4. HYBRID ELECTRIC VEHICLE
7.4.1. Overview
7.4.2. Hybrid Electric Vehicle Market Forecast and Analysis
7.5. PLUG-IN HYBRID VEHICLE
7.5.1. Overview
7.5.2. Plug-in Hybrid Vehicle Market Forecast and Analysis
7.6. FUEL CELL ELECTRIC VEHICLE
7.6.1. Overview
7.6.2. Fuel Cell Electric Vehicle Market Forecast and Analysis
8. AUTOMOTIVE POWER ELECTRONICS MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
8.1. OVERVIEW
8.2. COMPONENT MARKET FORECASTS AND ANALYSIS
8.3. SWITCHED MODE POWER SUPPLY (SMPS)
8.3.1. Overview
8.3.2. Switched Mode Power Supply (SMPS) Market Forecast and Analysis
8.4. DC TO DC CONVERTERS
8.4.1. Overview
8.4.2. DC to DC Converters Market Forecast and Analysis
8.5. TRACTION INVERTER (DC/AC)
8.5.1. Overview
8.5.2. Traction Inverter (DC/AC) Market Forecast and Analysis
8.6. ON-BOARD CHARGER (AC/DC)
8.6.1. Overview
8.6.2. On-board Charger (AC/DC) Market Forecast and Analysis
9. AUTOMOTIVE POWER ELECTRONICS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. POWERTRAIN AND CHASSIS
9.3.1. Overview
9.3.2. Powertrain and Chassis Market Forecast and Analysis
9.4. BODY ELECTRONICS
9.4.1. Overview
9.4.2. Body Electronics Market Forecast and Analysis
9.5. SAFETY AND SECURITY
9.5.1. Overview
9.5.2. Safety and Security Market Forecast and Analysis
9.6. INFOTAINMENT AND TELEMATICS
9.6.1. Overview
9.6.2. Infotainment and Telematics Market Forecast and Analysis
10. AUTOMOTIVE POWER ELECTRONICS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Automotive Power Electronics Market Overview
10.1.2 North America Automotive Power Electronics Market Forecasts and Analysis
10.1.3 North America Automotive Power Electronics Market Forecasts and Analysis - By Vehicle Type
10.1.4 North America Automotive Power Electronics Market Forecasts and Analysis - By Component
10.1.5 North America Automotive Power Electronics Market Forecasts and Analysis - By Application
10.1.6 North America Automotive Power Electronics Market Forecasts and Analysis - By Countries
10.1.6.1 United States Automotive Power Electronics Market
10.1.6.1.1 United States Automotive Power Electronics Market by Vehicle Type
10.1.6.1.2 United States Automotive Power Electronics Market by Component
10.1.6.1.3 United States Automotive Power Electronics Market by Application
10.1.6.2 Canada Automotive Power Electronics Market
10.1.6.2.1 Canada Automotive Power Electronics Market by Vehicle Type
10.1.6.2.2 Canada Automotive Power Electronics Market by Component
10.1.6.2.3 Canada Automotive Power Electronics Market by Application
10.1.6.3 Mexico Automotive Power Electronics Market
10.1.6.3.1 Mexico Automotive Power Electronics Market by Vehicle Type
10.1.6.3.2 Mexico Automotive Power Electronics Market by Component
10.1.6.3.3 Mexico Automotive Power Electronics Market by Application
10.2. EUROPE
10.2.1 Europe Automotive Power Electronics Market Overview
10.2.2 Europe Automotive Power Electronics Market Forecasts and Analysis
10.2.3 Europe Automotive Power Electronics Market Forecasts and Analysis - By Vehicle Type
10.2.4 Europe Automotive Power Electronics Market Forecasts and Analysis - By Component
10.2.5 Europe Automotive Power Electronics Market Forecasts and Analysis - By Application
10.2.6 Europe Automotive Power Electronics Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Automotive Power Electronics Market
10.2.6.1.1 Germany Automotive Power Electronics Market by Vehicle Type
10.2.6.1.2 Germany Automotive Power Electronics Market by Component
10.2.6.1.3 Germany Automotive Power Electronics Market by Application
10.2.6.2 France Automotive Power Electronics Market
10.2.6.2.1 France Automotive Power Electronics Market by Vehicle Type
10.2.6.2.2 France Automotive Power Electronics Market by Component
10.2.6.2.3 France Automotive Power Electronics Market by Application
10.2.6.3 Italy Automotive Power Electronics Market
10.2.6.3.1 Italy Automotive Power Electronics Market by Vehicle Type
10.2.6.3.2 Italy Automotive Power Electronics Market by Component
10.2.6.3.3 Italy Automotive Power Electronics Market by Application
10.2.6.4 Spain Automotive Power Electronics Market
10.2.6.4.1 Spain Automotive Power Electronics Market by Vehicle Type
10.2.6.4.2 Spain Automotive Power Electronics Market by Component
10.2.6.4.3 Spain Automotive Power Electronics Market by Application
10.2.6.5 United Kingdom Automotive Power Electronics Market
10.2.6.5.1 United Kingdom Automotive Power Electronics Market by Vehicle Type
10.2.6.5.2 United Kingdom Automotive Power Electronics Market by Component
10.2.6.5.3 United Kingdom Automotive Power Electronics Market by Application
10.2.6.6 Russia Automotive Power Electronics Market
10.2.6.6.1 Russia Automotive Power Electronics Market by Vehicle Type
10.2.6.6.2 Russia Automotive Power Electronics Market by Component
10.2.6.6.3 Russia Automotive Power Electronics Market by Application
10.2.6.7 Rest of Europe Automotive Power Electronics Market
10.2.6.7.1 Rest of Europe Automotive Power Electronics Market by Vehicle Type
10.2.6.7.2 Rest of Europe Automotive Power Electronics Market by Component
10.2.6.7.3 Rest of Europe Automotive Power Electronics Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Automotive Power Electronics Market Overview
10.3.2 Asia-Pacific Automotive Power Electronics Market Forecasts and Analysis
10.3.3 Asia-Pacific Automotive Power Electronics Market Forecasts and Analysis - By Vehicle Type
10.3.4 Asia-Pacific Automotive Power Electronics Market Forecasts and Analysis - By Component
10.3.5 Asia-Pacific Automotive Power Electronics Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Automotive Power Electronics Market Forecasts and Analysis - By Countries
10.3.6.1 China Automotive Power Electronics Market
10.3.6.1.1 China Automotive Power Electronics Market by Vehicle Type
10.3.6.1.2 China Automotive Power Electronics Market by Component
10.3.6.1.3 China Automotive Power Electronics Market by Application
10.3.6.2 India Automotive Power Electronics Market
10.3.6.2.1 India Automotive Power Electronics Market by Vehicle Type
10.3.6.2.2 India Automotive Power Electronics Market by Component
10.3.6.2.3 India Automotive Power Electronics Market by Application
10.3.6.3 Japan Automotive Power Electronics Market
10.3.6.3.1 Japan Automotive Power Electronics Market by Vehicle Type
10.3.6.3.2 Japan Automotive Power Electronics Market by Component
10.3.6.3.3 Japan Automotive Power Electronics Market by Application
10.3.6.4 South Korea Automotive Power Electronics Market
10.3.6.4.1 South Korea Automotive Power Electronics Market by Vehicle Type
10.3.6.4.2 South Korea Automotive Power Electronics Market by Component
10.3.6.4.3 South Korea Automotive Power Electronics Market by Application
10.3.6.5 Rest of Asia-Pacific Automotive Power Electronics Market
10.3.6.5.1 Rest of Asia-Pacific Automotive Power Electronics Market by Vehicle Type
10.3.6.5.2 Rest of Asia-Pacific Automotive Power Electronics Market by Component
10.3.6.5.3 Rest of Asia-Pacific Automotive Power Electronics Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Automotive Power Electronics Market Overview
10.4.2 Middle East and Africa Automotive Power Electronics Market Forecasts and Analysis
10.4.3 Middle East and Africa Automotive Power Electronics Market Forecasts and Analysis - By Vehicle Type
10.4.4 Middle East and Africa Automotive Power Electronics Market Forecasts and Analysis - By Component
10.4.5 Middle East and Africa Automotive Power Electronics Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Automotive Power Electronics Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Automotive Power Electronics Market
10.4.6.1.1 South Africa Automotive Power Electronics Market by Vehicle Type
10.4.6.1.2 South Africa Automotive Power Electronics Market by Component
10.4.6.1.3 South Africa Automotive Power Electronics Market by Application
10.4.6.2 Rest of Middle East and Africa Automotive Power Electronics Market
10.4.6.2.1 Rest of Middle East and Africa Automotive Power Electronics Market by Vehicle Type
10.4.6.2.2 Rest of Middle East and Africa Automotive Power Electronics Market by Component
10.4.6.2.3 Rest of Middle East and Africa Automotive Power Electronics Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Automotive Power Electronics Market Overview
10.5.2 South and Central America Automotive Power Electronics Market Forecasts and Analysis
10.5.3 South and Central America Automotive Power Electronics Market Forecasts and Analysis - By Vehicle Type
10.5.4 South and Central America Automotive Power Electronics Market Forecasts and Analysis - By Component
10.5.5 South and Central America Automotive Power Electronics Market Forecasts and Analysis - By Application
10.5.6 South and Central America Automotive Power Electronics Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Automotive Power Electronics Market
10.5.6.1.1 Brazil Automotive Power Electronics Market by Vehicle Type
10.5.6.1.2 Brazil Automotive Power Electronics Market by Component
10.5.6.1.3 Brazil Automotive Power Electronics Market by Application
10.5.6.2 Argentina Automotive Power Electronics Market
10.5.6.2.1 Argentina Automotive Power Electronics Market by Vehicle Type
10.5.6.2.2 Argentina Automotive Power Electronics Market by Component
10.5.6.2.3 Argentina Automotive Power Electronics Market by Application
10.5.6.3 Rest of South and Central America Automotive Power Electronics Market
10.5.6.3.1 Rest of South and Central America Automotive Power Electronics Market by Vehicle Type
10.5.6.3.2 Rest of South and Central America Automotive Power Electronics Market by Component
10.5.6.3.3 Rest of South and Central America Automotive Power Electronics Market by Application
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. AUTOMOTIVE POWER ELECTRONICS MARKET, KEY COMPANY PROFILES
12.1. DANFOSS GROUP
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. INFINEON TECHNOLOGIES AG
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. MITSUBISHI ELECTRIC CORPORATION
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. NXP SEMICONDUCTORS
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. RENESAS ELECTRONICS CORPORATION
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. ROBERT BOSCH GMBH
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. ROHM CO., LTD.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. TEXAS INSTRUMENTS INCORPORATED
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. TOSHIBA CORPORATION
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. VISHAY INTERTECHNOLOGY INC
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. Danfoss Group
2. Infineon Technologies AG
3. Mitsubishi Electric Corporation
4. NXP Semiconductors
5. Renesas Electronics Corporation
6. Robert Bosch GmbH
7. Rohm Co., Ltd.
8. Texas Instruments Incorporated
9. Toshiba Corporation
10. Vishay Intertechnology Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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